Construction co. files for bankruptcy
A West Bath construction company has filed for Chapter 7 bankruptcy and laid off more than 40 employees.
Bill Whorff Inc. filed for bankruptcy last month and has since ceased operation, according to The Times Record. The company listed more than $2.4 million in liabilities and $1.96 million in assets, and is scheduled to begin court proceedings today. Chapter 7 bankruptcies usually result in liquidation of assets and property to pay off creditors, the largest of which is Vermont-based Ferguson Waterworks, owed more than $250,000. Executive Vice President Jim Whorff, however, told the paper he hopes the 46-year-old company can restructure in some way and reopen.
Whorff cited outstanding payments owed to his company as the reason for its debt, according to the paper.
Most Recent
Most Recent
Comments